23 OCTOBER 2020

Last week was another one without a clear tendency as shipping equities moved sideways again, generating a minor plus of 0.1 percent overall w-o-w. Still, this is a somewhat better result compared to the general financial markets which tended towards the softer side, again. The continuously rising numbers of new COVID-19 worldwide seem to keep the upper hand on the investors' mood.

LNG shipping equities proved to be the top performers of last week, gaining 4.3 percent overall. The bulker shipping sector came in second place at some distance (+1.4 percent). The weakest performers were the crude- and the product-shipping sectors with losses of 4.7 percent and 2.7 percent, respectively. The other shipping sectors' weekly performance was around or near zero. 

We assume that particularly the LNG shipping equities could still benefit from the strong demand in Asia. However, this effect seems to have somewhat worn off with regard to the LPG shipping equities last week.

With regard to the Notos Maritime Sentiment, we notice that the index has slid into negative territory again, moving closer to the -0.1 threshold which would statistically indicate that more caution is to be taken in respect of shipping equity investments. This deterioration particularly comes along with a more uncertain global equity sentiment and subdued fundamentals in the crude oil- and bulker-shipping sector.

This document has been prepared and approved by Notos Consult GmbH and is for informational purpose only. The information presented in this report is intended for the recipient to whom it was delivered. Reproduction or distribution of this document in whole or in part is not permitted without the express written consent of Notos Consult GmbH.

This document contains forward-looking statements. We caution the reader that forward-looking statements are not guarantees of future performance. Past returns are no indication of future returns. The development of the industry, 
markets, and companies described in this document may differ materially from the forward-looking statement contained herein.

Information and opinions contained in this document have been compiled from sources believed to be reliable. Unless otherwise stated, any statements herein are based on our own estimates at the time of publication. Notos Consult GmbH makes no representation as to the accuracy or completeness of any of the information contained herein and accepts no liability for loss arising from the use of the information provided. 

This document is not an offer of any kind. This report has been prepared separately from any proposed offering of any security and as such information herein must not be relied upon as having been authorized or approved by the issuer of such security.

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